H. H. Spaulding To Lead "Modernizing Creating New r Citrus Belt Club

II U. g. Spaulding, Hemet, California, has been elected /president of the Citrus Belt Hoo Hoo Club. IIe succeeds /ifoy Sandefur of Arlington. C. E. Peterson of Riverside . / has been elected vice-president and A. R. It{ills of San BerY nardino secretary-treasurer.

The C,lub' hai recommended Fred A. Chapin of the Chapin Lumber Co., San Bernardino, for viceget'ent snarkChailes Adims, Adams Lumber Co., San Bernardino, served as vicegerent snark of the district during the pas-t year.

\il. C. Whitney Elected Director

The Yates-American Machine Company directors, at a special meeting held Wednesday, elected William C. Whitniy, of Winchondon, Mass., a director t9 fill the vacancy caused by the resignation of George W. Pearson.

Mr. Whitney is president of Baxter D. Whitney & Son, Inc., manufacturers of woodworking machinery. The Yates Company is the exclusive sales agent of the Whitney line'

The directors further decided that while the earnings reported for the first four months of their fiscal year were substantial, that until the outlook for the next few months is more clearly defined they would not at this time start payment on the accumulated dividends on the participating preference stock, but would defer any such action until a later date.

On October 31 the position of the Company was excellent, with current assets totalling over $4,054,000 against current liabilities of $524,000. Cash alone was in excess of all current liabilities. Net current assets equal $26 a share on the 135,000 shares of participating preference stock outstanding. This is after purchasing on open market for retirement $125,0CD of the company's bonds durin$ the last five months.

Lumber Shed Proves Saving For Railroad

Derby, Me., Dec. 15.-A closed shed for maintaining stored lumber, at a moisture content of 12 per cent, proves an economical investment for the Bangor and Aroostook shops here. Lumber taken from a kiln drying down to 12 per cent is placed in the shed and later used in the construction of single and double-sheathed freight cars. After being in service eight years and longer, no complaint of shrinkage of lumber kept in this shed has been made. The railroad finds that the additional cost of lining its old sheds and putting in steam pipes did not exceed $1500. The shed is built of matched boards and lined on the inside rvith waterproof paper. The entrance from the alleys of the shed are all enclosed with large sliding doors, also similarly lined. In addition to this, steam pipes pass 'through the shed and keep a constant temperature during fall, rvinter, and spring months of about 65 to 70 degrees of heat.